The dynamic, lucrative recruitment industry could be the perfect area in which to spread your wings and become a franchisee. Enjoy limited risk, plenty of freedom and a proven business model, and thrive in a sector that’s growing each year.
To start a franchise in the recruitment sector and make it a success, you’ll need to do your research and know exactly what you’re getting into. That research starts here, with the five biggest advantages of investing with a recruitment company and running a recruitment franchise.
The current state of the recruitment industry
Though the past year has been a challenge for most industries across the board thanks to COVID-19, the recruitment sector is proudly bouncing back, in part due to the strong position in which it entered the pandemic.
It’s a testament to recruiters’ resilience that they grew their contribution to the economy by a huge 8% to £42.3bn in 2019. They helped over a million people into permanent roles before the pandemic, and had just under one million staff out on temporary placements every day. That hard work put the industry in good shape going into lockdown.
— Neil Carberry, Recruitment and Employment Confederation
Post-pandemic, franchising is one of the strongest routes to entrepreneurship. If you have good communication skills, good negotiation skills, ambition and a goal-oriented approach to work, you could thrive in the recruitment sector, providing talent selection services to companies across the UK.
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The 5 biggest advantages of running a recruitment franchise
1. You’ll be making a positive impact
As a recruiter, you’ll be connecting worthy candidates with interested employers, and this can be extremely rewarding. Working within a B2B franchise, you might find another company its dream hire, and you might take real pride in the compatible connections you’ve made between employers and employees.
You’ll also have a chance, on a wider scale, to improve and innovate within the recruitment industry, making changes to existing systems that reduce unconscious bias during the hiring process and ensure that the most talented candidates out there can be placed in the right positions.
While you may have to work in challenging or competitive environments, the recruitment industry can be hugely rewarding. Helping a candidate secure their dream job or finding the perfect employee for an appreciative business can bring a great sense of job satisfaction.
2. You’ll benefit from the brand name and the proven business model
One of the biggest advantages of joining a franchise in any sector, as touched on above, is the chance to connect with a reputable, established brand, accessing its reputation and its built-in customer base. While independent business owners have to start from scratch, marketing and advertising themselves to gain an audience, you’ll be one step ahead.
Plus, you’ll benefit from the proven business model of your franchisor, developed and perfected over time in order to produce the most profit and create the most success. Each year, the franchisor will look at the franchise’s performance and tweak the business model accordingly, meaning that the winning formula is as perfected as it can be.
This is one of the biggest reasons that failure rates in the franchising industry are so low, and the industry itself is so profitable, generating a turnover of £17.2 billion in 2018 [British Franchise Association].
3. You’ll receive plenty of training and ongoing support
Recruitment company franchisees often won’t need any previous experience in the sector, meaning that if you’re ready for a career change, you could be perfectly suited to this type of opportunity. The reason experience isn’t so prioritised is due to the way that the franchise business model works. Once you’re on board as a franchisee and you’ve made your investment, your franchisor will, in most cases, provide you with an extensive programme of training and support, covering:
- Operating standards and procedures
- Employee recruitment, retention, management and training
- Marketing and advertising
- Financial management
- Business administration
The best franchisors are huge advocates of training and invest heavily in it. Even though the training conducted by newer franchise companies is often fairly informal, the best new franchisors make it a priority to develop more formal programs as soon as possible.
—Mark Siebert, Entrepreneur
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4. You’ll have working flexibility and many opportunities to progress
Recruitment franchise opportunities come in all shapes and sizes, and if you find the one that’s right for your lifestyle, financial means and availability, you’ll be able to enjoy flexibility in the way that you work. You might be able to work remotely from home, cutting down your commute time. You could choose to take on a more managerial role, overseeing a team of recruiters. Whatever your preference, you can find something suitable in the diverse sector.
Similarly, you’ll also have the freedom to choose your own path as you progress through the industry, with plenty of development opportunities available to you in a field that’s known to move (and promote) quickly. As a recruitment franchisee, there’s no ceiling to what you’ll be able to accomplish and achieve.
5. You’ll enjoy a competitive culture and the chance to win commission bonuses
If you’re someone who thrives on competition, a career in recruitment might suit you perfectly. Sometimes, the hours can be demanding, but if you’re willing to put in the hard work, you can earn some substantial commission bonuses.
The industry’s culture is exciting and fast-paced. But after a difficult year, significant investment has been made into wellbeing initiatives and culture workshops, so your work-life balance is generally respected and prized. Even in a sector that’s buzzing with competitive spirit. As a franchisee, you’d get the best of both worlds. Moments to relax and leave work behind, and moments to strive for commissions and make recruitment dreams come true.
Running a franchise in the recruiting sector is rewarding, challenging and profitable
As you can probably tell by now, recruitment is for you if you’re interested in flexibly running your own business in an exciting, evolving sector. If recruitment isn’t your cup of tea, but franchising might well be, browse a wide range of opportunities in different sectors via Point Franchise’s UK franchise directory.
Cara Squires, Point Franchise ©